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Technology Stocks : LOCKHEED MARTIN, (LMT)

LMT 491.88

+0.4%

Oct 31 9:30 AM EST

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To: Ilaine who wrote (636)	3/12/2000 11:58:00 PM
From: Ilaine	Read Replies (1) of 732

Sunday March 12, 9:11 pm Eastern Time Lockhead boss urges Pentagon to pay more for arms LONDON, March 13 (Reuters) - U.S. weapons makers risk going under unless the United States government pays more for their products, Lockheed Martin (NYSE:LMT - news) Chairman Vance Coffman said an interview with the Financial Times newspaper reported on Monday. The Lockheed chief said savings created by defence industry mergers had been absorbed mainly by the government and suggested the Pentagon improve companies' cash positions by increasing progress payments made during the life of weapons' contracts. ``When you see that three of the four major prime contractors in the U.S. have bond ratings that are BBB minus, you know there's a problem in the industry. This is not a one-company phenomenon,' Coffman said. ``The fact is that companies in the defence business have to earn compatible returns with the rest of opportunity sets in the Wall Street market, or they don't survive,' he added. The FT said Coffman argued vigorously that Lockheed had turned the corner after correcting various product problems, cutting jobs and winning new orders.

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